ATRenew (NYSE:RERE) Raised to “Strong-Buy” at Wall Street Zen

ATRenew (NYSE:RERE) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATRenew in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, ATRenew has an average rating of “Hold”.

ATRenew Stock Down 5.2%

Shares of NYSE:RERE opened at $5.86 on Friday. ATRenew has a 12-month low of $2.00 and a 12-month high of $6.47. The business has a 50 day moving average of $5.42 and a 200-day moving average of $4.55. The stock has a market cap of $1.51 billion, a PE ratio of 36.63 and a beta of 0.19.

Institutional Investors Weigh In On ATRenew

Several institutional investors and hedge funds have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new position in ATRenew in the 2nd quarter valued at about $406,000. XTX Topco Ltd acquired a new stake in shares of ATRenew during the 2nd quarter worth approximately $483,000. Acadian Asset Management LLC increased its stake in ATRenew by 41.9% in the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock valued at $12,622,000 after acquiring an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its stake in ATRenew by 4.0% in the second quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock valued at $10,444,000 after acquiring an additional 120,000 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in ATRenew during the third quarter valued at approximately $354,000. Institutional investors own 19.29% of the company’s stock.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms. The company was formerly known as AiHuiShou International Co Ltd.